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Capital Gains Tax
CWSmith
Posts: 451 Forumite
(Sorry if this is the wrong forum!)
Can someone please explain how Capital Gains Tax works in this situation?
This year, I inherited my mothers' house. For the past few years it has been let out to pay nursing home fees; the rental income being paid to my mother.
In a year or two I would like to sell the house. I don't own any other property - I am living in a rented house.
Am I liable for Capital Gains Tax and how is it calculated?
Thanks
Can someone please explain how Capital Gains Tax works in this situation?
This year, I inherited my mothers' house. For the past few years it has been let out to pay nursing home fees; the rental income being paid to my mother.
In a year or two I would like to sell the house. I don't own any other property - I am living in a rented house.
Am I liable for Capital Gains Tax and how is it calculated?
Thanks
0
Comments
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The Cutting Tax board might be a better place for this query.0
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Thanks, I've shifted it0
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